Polygon (MATIC) Price Chart

Thinking about enriching your crypto portfolio with Polygon (MATIC) tokens? Then you’re on the right path. CEX.IO provides you a secure place for buying, selling, exchanging, and staking a wide range of cryptocurrencies, including MATIC token. Our crypto trading website and mobile app have multiple useful and simple instruments so you can dive into crypto from literally day one. Let’s start with a quick review of the Polygon network peculiarities and the Polygon (Matic network) price chart.

About Polygon (MATIC) network token

Polygon (previously Matic Network) positions itself as a layer-2 scaling solution for Ethereum blockchains. It uses side-chains consensus for off-chain computation and aims to offer highly scalable and fast blockchain transactions.

MATIC is a native token of the Polygon network. Users can spend their MATICs participating in blockchain governance, paying the transaction fee, or for the services, provided by dApps built on Polygon (Matic network). 

Proof of stake (PoS) security model

The MATIC token is also playing an important role in network protection. Polygon blockchain uses a proof of stake (PoS) checkpointing security model. A checkpoint there is similar to the node in the proof of work (PoW) consensus. For successful committing of the checkpoint, a validator gets a reward in MATIC tokens. Just like miners get their BTC rewards for successfully validating Bitcoin transactions. Those so-called stakers or validators who tried to double sign the checkpoint or were caught on downtime must pay a fine.

How to become a Polygon owner

Initially, MATIC was available for trading against BTC and ETH only. 

So, in order to get MATIC tokens, many users had to buy Ethereum or Bitcoins first. And then exchange these coins to MATIC.

CEX.IO is one of the first exchanges to support Polygon trading against different fiat currencies like USD, EUR, and GBP. We made it easier to add this cryptocurrency to your crypto portfolio. You can now simply buy MATIC with your debit/credit card at CEX.IO using the Instant Buy service. 

Another way how you can get Polygon (MATIC) tokens is by using regular Spot Trading instruments — market and limit orders. These options allow you to exchange the fiat money or USDT that you have on the CEX.IO account for over 100 different cryptocurrencies. So, the first thing you should do is put some funds in your account by making a deposit. Then, go to the Spot Trading page, choose a currency pair, and place trading orders. For instance, if you have dollars on your balance, you can open buy orders in MATIC to USD pair.

MATIC staking with CEX.IO 

Once you buy or deposit MATIC to your CEX.IO account, these tokens start participating in staking. This means you’ll get a reward at the end of every staking period for simply holding MATIC tokens on your account. Our approach to staking makes this process as easy as possible while keeping control of your funds in your hands. We don’t lock your stake-able funds, you can trade or withdraw these coins at any time. With the CEX.IO staking, you can potentially increase your MATIC holdings by 10% annually by doing virtually nothing. 

Current Polygon (Matic) price index

The diversity of use cases helps Polygon (MATIC) to maintain a competitive position in the crypto market. The project quickly became popular among dApps developers thanks to the network's flexibility that allows the creation of multiple types of applications. Besides, Polygon offers its own Matic payments system for dApps and gaming networks. These factors create a demand for the network’s native token as the main payment unit for the services. Has it affected the MATIC historical price? You can view our online price charts to find out. 

What can I see on the crypto price chart?

The price chart is a visualization of how the value of traditional or digital assets changed over time. Green candles signalize the rising price trend and red ones show the price decline. 

How to identify a current price 

When you go to CEX.IO Spot Trading, you can see a list of currency pairs in the left part. Right near the pair abbreviation (eg. MATIC/EUR — MATIC to EUR market), you can see the current price index. You can also find the same value in the upper part of the chart — it is the Last price indicator. 

The current rate shows the value of the crypto coin or token in relation to the fiat funds or other crypto (like MATIC to USDT). However, the crypto market is highly volatile. So, consider the check order book when making your own MATIC price analysis. Orders with the highest buy price and the lowest sell price are usually completed first. The market price changes respectively after that. Traders use this information to identify in which direction will the price change next.

Polygon (MATIC) price history 

Before diving into the crypto market, every trader makes some prior analysis to make the most informed decisions. Mostly, prior research includes studying the project development and the history of the asset price movements. 

With CEX.IO live price charts everyone can easily analyze the changes of Polygon (MATIC) price over time and determine the entry points. We can see that the MATIC token was traded in approximately the same range for a very long time. From the network launch in 2019 to the end of 2020, the price was fluctuating between $0.01 and $0.04.

Then, in 2021 the price of MATIC started a confident uptrend. It rose by over thirty times within a few months. Many finance experts believe that the rising popularity of the project and its rebranding to Polygon created a good background for that movement. Others consider that this altcoin just followed the major uptrend started by Bitcoin.